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Investments in Foreclosed Real Estate and Distressed Loans
 6 Months Ended
Apr. 30, 2016
Investments in Non-Performing Loan Portfolios and Foreclosed Real Estate [Abstract]  
Investments in Foreclosed Real Estate and Distressed Loans
Investments in Foreclosed Real Estate and Distressed Loans
Investments in REO and distressed loans consisted of the following, as of the dates indicated (amounts in thousands):
 
April 30,
2016
 
October 31,
2015
Investment in REO:
 
 
 
Held and used classification
$
12,383

 
$
48,514

Held for sale classification
2,193

 
1,719

 
14,576

 
50,233

Investment in distressed loans


 
1,497

 
$
14,576

 
$
51,730


Investments in REO
The table below provides, for the periods indicated, the activity in REO (amounts in thousands):
 
Six months ended April 30,
 
Three months ended April 30,
 
2016

2015
 
2016
 
2015
Balance, beginning of period
$
50,233

 
$
69,799

 
$
47,325

 
$
66,934

Additions
866

 
1,904

 
172

 
227

Sales
(35,728
)
 
(7,668
)
 
(32,361
)
 
(3,382
)
Impairments
(713
)
 
(183
)
 
(558
)
 
(14
)
Depreciation
(82
)
 
(172
)
 
(2
)
 
(85
)
Balance, end of period
$
14,576

 
$
63,680

 
$
14,576

 
$
63,680


In the second quarter of fiscal 2016, we sold certain REO and distressed loans to an unconsolidated entity in which we have an interest for $24.1 million. See Note 3, “Investments in Unconsolidated Entities – Gibraltar Joint Ventures,” for additional information regarding this sale.